The two factions of AKGSMA have merged into a single organization, reinforcing the ‘One India, One Gold Rate’ initiative to standardize gold prices in Kerala and beyond.
Kochi: In a landmark move towards standardizing gold prices across the country, the two existing factions of the All Kerala Gold & Silver Merchants Association (AKGSMA) have officially merged into a single organization. This consolidation strengthens the implementation of the ‘One India, One Gold Rate’ initiative, ensuring a uniform gold pricing system in Kerala and serving as a model for the rest of the country.
B. Govindan, Chairman of Bheema Group and South Zone Chairman of the India Bullion & Jewellery Association, has taken charge as the Chairman of the unified organization. Justin Palathra will serve as the President, while K.M. Jaleel (Palakkad) takes over as the General Secretary. Bindu Madhav (Bheema, Kochi) has been designated as the Treasurer, with B. Girirajan (Bheema, Kozhikode) and Ismail Kutty Haji (Kayamkulam) serving as Patrons.
The All Kerala Gold & Silver Merchants Association was originally founded in 1945 under the leadership of R. Parameswaran Pillai, Bheema Pattar, and P.T. Cherian. However, internal differences led to a faction splitting away in 2013 to form a separate organization under the same name.
The merger comes at a crucial time when gold traders are facing significant challenges, including unprecedented price surges, strict police recovery measures, and E-way bill restrictions, which have severely impacted small-scale traders. Addressing these concerns, both factions engaged in discussions and successfully reached an agreement to operate under a unified platform.
At a press conference, B. Govindan, Justin Palathra, and K.M. Jaleel emphasized that the organization’s primary objective is to expand the ‘One India, One Gold Rate’ model across the nation. Kerala has already implemented this system, which has been adopted by seven South Indian states, and efforts are underway to establish it nationwide. The unified organization’s headquarters will be in Alappuzha, and the P.T. Cherian Gold Bhavan in Kochi will also be a part of it. Furthermore, all existing legal disputes between the factions will be withdrawn, and a statewide conference for all jewelry business owners in Kerala is planned for April.
With this merger, AKGSMA Swarna Bhavan is set to establish a standardized gold pricing system, ensuring greater transparency and stability in the gold trade across Kerala and beyond. James Jose, a member of the AKGSMA Secretariat, also participated in the press conference.
